Gary Owens Allegedly Recommended Unsuitable Investments

Gary Owens (CRD #: 1048781), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on March 9, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On December 7, 2022, an investor filed a dispute alleging that Gary Owens recommended unsuitable investments that did not fit the client’s investment objectives. The client sought $133,084 in damages but the dispute was denied by the firm.

However, investors should be aware that firms don’t need to allow an outside review before denying a dispute. Investors can still seek out FINRA arbitration and potentially recoup their losses following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which contains information about their risk tolerance, tax status, and financial goals.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Gary Owens has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination

Gary Owens is a registered broker in 21 states and the Virgin Islands. He is also a registered investment adviser in Florida and Texas.

He has also worked for the following firms:

• Morgan Stanley (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• UBS Financial Services (CRD#:8174)
• Lehman Brothers (CRD#:7506)
• Blinder, Robinson & Company (CRD#:5096)

Kurta Law Can Help

If you worked with Gary Owens and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.